Banking Question

[kaitlyndvc]

I recently joined DVC and have a question regardiing the banking of points. I have selected April as my use year and am having some second thoughts. Since I haven't signed the contract, I believe that I am still able to change the use year. My family will likely be traveling during either the May-June months or the Oct-November months.

Having just joined DVC we received 160 points immediately (representing 2009 points) and will be receiving an additional 160 points as of April 1st. However, we will be traveling next week and will be using 135 points for the trip, leaving 25 points to be banked. So, as of April 1st, we will have 185 points, 25 of which can no longer be banked. That creates to problems:

1) I lose those 25 points unless I travel before April 2011, which I don't intend to do since we will be traveling in May 2011.

2) Assuming I bank the newly issued (April 2010) 160 points and am looking to make a reservation in May 2011, will DVC make me borrow 2011 points to make that reservation (i.e., not let me use the April 2010 banked points)? If so, then as of April 2011, I will have 160 points that cannot be banked again - leaving me in a situation to forfeit another 160 points unless I travel before April 2012.

Thoughts would be appreciated.

 

[DebbieB]

I recently joined DVC and have a question regardiing the banking of points. I have selected April as my use year and am having some second thoughts. Since I haven't signed the contract, I believe that I am still able to change the use year. My family will likely be traveling during either the May-June months or the Oct-November months.

Having just joined DVC we received 160 points immediately (representing 2009 points) and will be receiving an additional 160 points as of April 1st. However, we will be traveling next week and will be using 135 points for the trip, leaving 25 points to be banked. So, as of April 1st, we will have 185 points, 25 of which can no longer be banked. That creates to problems:

1) I lose those 25 points unless I travel before April 2011, which I don't intend to do since we will be traveling in May 2011.

2) Assuming I bank the newly issued (April 2010) 160 points and am looking to make a reservation in May 2011, will DVC make me borrow 2011 points to make that reservation (i.e., not let me use the April 2010 banked points)? If so, then as of April 2011, I will have 160 points that cannot be banked again - leaving me in a situation to forfeit another 160 points unless I travel before April 2012.

Thoughts would be appreciated.

I have an April use year and typically travel April-May or October-December and it's always worked for me.

You would have to use the remaining 25 2009 points by 3/31/11.

You would be able to use April 2010 points banked into 2011 for that May 2011 reservation. Points are not "issued" when your use year starts, they are already in your account years in advance. Right now when I look at my account online, it shows April 2009, 2010, 2011, 2012. On 4/1/10, they will add 2013. You never have to wait for points to "deposit". Points used are as of the date of stay, not the date that you make the reservation. So for May 2011, you would be in your 2011 use year, you can use banked 2010, current 2011, borrowed 2012. You would not borrow 2011, they would be current year for that reservation.

 

[drusba]

April is an ideal use year if you usually go in May and OK even if you usually go in October. The issue you are facing is caused by getting 2009 points.

If you do not use those 25 remaining 2009 points that have been banked into 2010 by March 31,2011, you will lose them.

If you plan to go May 2011, you can bank the 160 2010 points into the April 2011 use year and those banked points will be used before others for that May 2011 trip. For example, you want to go May 2011; you call in June 2010 to reserve that trip; before reserving while you are on the phone, first tell MS you want to bank the 160 2010 points. Once that is done, and on same phone call, make your reservation for that May 2011 trip using those banked points first before any that will be issued in April 2011.

 

[wildernessDad]

You have 8 months to bank points, not a year, but since you just bought points, DVC will allow you to bank those points past your banking deadline.

I have an April UY and my banking deadline is November 30.

 

[Sandisw]

One of the hardest things, when new, is figuring out what points can be used for reservations.

First, the points that can be used are based on when your trip happens, and not what is available when you call.

So, with an April UY, those 2009 points can be used to "pay" for trips during your 2009 UY as well as banked for trips during your 2010 UY (April 1st through March 31st, 2011). Since your May 2011 trip falls in your April 2011 UY, those can not be used for that trip.

What can be used for the May 2011 trip, since it is in your April 2011 UY, are banked 2010 points, 2011 points, and borrowed 2012 points. When you call in June 2010 to make that reservation, MS will look at your account and use up the banked points first (providing you have already banked them--if you have not, then they will use 2011 points first), current UY points next, and then borrow 2012 points if you don't have enough to complete the reservation.

I think that April UY works out best for you if you continue those May and early fall trips.

Good luck!!

 

[DenLo]

Just a question, I didn't know you could actually stay on the points until you paid for them. I know you can make a reservation but an actual stay?

 

[DebbieB]

Just a question, I didn't know you could actually stay on the points until you paid for them. I know you can make a reservation but an actual stay?

What do you mean "paid for them"? Do you mean dues? Dues are based on calendar year, not use year. They have to be paid by Jan 15, with a grace period to Feb 15, unless you made arrangements for monthly direct debits. If you haven't paid, they can deny you from checking in regardless of what use year points are being used for that reservation.

 

[Muhlenberg]

I'm a little confused...it looks like she has a reservation for next week on points, but hasn't signed the contract yet. (And I'm assuming, hasn't paid for the contract yet, either. Not the MF...the entire contract.)

I also think April is an ideal use year with those travel times. Keep in mind, though, travel habits change as time goes on. An April UY wouldn't be ideal if travel is Dec. through March, sometime in the future.

 

[DebbieB]

I'm a little confused...it looks like she has a reservation for next week on points, but hasn't signed the contract yet. (And I'm assuming, hasn't paid for the contract yet, either. Not the MF...the entire contract.)

I also think April is an ideal use year with those travel times. Keep in mind, though, travel habits change as time goes on. An April UY wouldn't be ideal if travel is Dec. through March, sometime in the future.

Good question, I didn't even notice that. They may have to sign paperwork saying that they will reimburse the cost of the room if they don't complete the contract (and leave a credit card guarantee).

 

[Muhlenberg]

Good question, I didn't even notice that. They may have to sign paperwork saying that they will reimburse the cost of the room if they don't complete the contract (and leave a credit card guarantee).

Or...worse than that...THINKS there's a reservation on points. Timing just seemed way off if they're still contemplating a different UY.

 

[DebbieB]

Or...worse than that...THINKS there's a reservation on points. Timing just seemed way off if they're still contemplating a different UY.

They probably do have a reservation. Many times guides will "seal the deal" by getting a quick reservation.

 

[kaitlyndvc]

Debbie is right. We already had a reservation for the week of the 20th at the CBR, but as an incentive to "buy-now," they offered us this stay at AK for the same week (it was surprisingly available!).

As for payment, they already ran a credit check and took our card information for the DP, so I assume they will charge my card before I even sign the contract...but who knows. I anticipate the paperwork to arrive in the next few days, at which point I will need to get everything back to the DVC office.

Fear not, though, I am sure Disney will get their money if I chose to stay without actually locking this up.

 

[bumbershoot]

"Assuming I bank the newly issued (April 2010) 160 points and am looking to make a reservation in May 2011, will DVC make me borrow 2011 points to make that reservation (i.e., not let me use the April 2010 banked points)?"


As others have said, no, you won't have to borrow to make the May 2011 reservation. You'll have the 2010 points banked, and that's what you can use to pay for your May 2011 reservation. You'll have the banked '10 points and the '11 points as well!

 

[Muhlenberg]

Debbie is right. We already had a reservation for the week of the 20th at the CBR, but as an incentive to "buy-now," they offered us this stay at AK for the same week (it was surprisingly available!).

As for payment, they already ran a credit check and took our card information for the DP, so I assume they will charge my card before I even sign the contract...but who knows. I anticipate the paperwork to arrive in the next few days, at which point I will need to get everything back to the DVC office.

Fear not, though, I am sure Disney will get their money if I chose to stay without actually locking this up.

Thanks for the explanation!

Good luck with whatever you decide! And...more importantly...have fun and enjoy the membership.

I just figured out yesterday that our breakeven should be within the next two years...and within 5 years of buying. (SHould have done this sooner...should have done this sooner... )